A required minimum distribution (RMD) is the smallest amount of money that must be withdrawn from certain types of retirement ...

This mandatory withdrawal from retirement accounts must be completed by December 31, 2025, to avoid significant financial ...

IRS Form 5329 must be filed for any RMD not taken by the deadline, whether to pay the excise tax or request a waiver. But no Form 5329 is required when an automatic waiver applies. If you missed ...

Anyone turning 73 or older this year with an IRA is required to withdraw money from these accounts. Waiting as long as possible to take the very first of these withdrawals can prove needlessly costly.

Note that you don't have to do an RMD with the money in your 401(k ... If reporting additional income on your Form 1040 increases your Medicare Part B premiums or negatively affects the taxability ...

Although this can be reduced to 10% if the amount is paid off within 24 months and a Form 5329 is filed with the body. Advisors generally recommend taking the first RMD on December 31 of the year ...

How do you know what your RMD is for any given year? Your broker, custodian, or retirement plan administrator will give you a year-end tax form 5498, which tells you the amount you should use to ...

individuals must file a Form 5329 with the IRS and attach a letter of explanation. To summarize, people who turn 73 in 2025 and have a tax-deferred retirement account must take their first RMD by ...